Jakarta. The Commodity Futures Trading Supervisory Agency (Bappebti) has expanded the list of tradable crypto assets from 501 to 545 assets.

"This regulation adopts a positive list approach to reduce the risk associated with trading crypto assets lacking clear whitepapers or engaging in illegal activities such as money laundering," Acting Head of Bappebti, Kasan, said in a statement on Thursday. 

The assessment of crypto assets eligible for inclusion in the list is entrusted to the Crypto Asset List Assessment Team, comprising representatives from Bappebti, associations, and industry stakeholders. 

To ensure customer protection, Bappebti will continue to monitor innovations in the crypto market. Periodic reviews, at least once a year, will be conducted on crypto assets traded on exchanges or platforms regulated by Bappebti in Indonesia to assess their continued legal compliance.

CEO of crypto exchange Tokocrypto, Yudhono Rawis, commended Bappebti's expanding the list of newly legal crypto assets in Indonesia. He views this decision as a significant step in regulating the crypto asset industry.

"This new regulation creates a clearer framework for market participants and investors. With the addition of legal crypto asset listings, it is expected to reduce uncertainty and enhance trust within the crypto trading ecosystem in Indonesia," said Yudho.

The latest list includes various types of crypto assets, ranging from popular ones like Bitcoin and Ethereum to newer and less-known crypto assets. Each listed asset has undergone a meticulous evaluation by Bappebti to ensure compliance with regulations and potential impacts on market stability.

"We conduct in-depth research regarding compliance with regulations, security, liquidity, and the reputation of crypto assets before listing them," said Yudho, who also serves as the Vice Chairman of the Indonesian Crypto Asset Trader Association (Aspakrindo).

The introduction of this legal crypto asset list is expected to drive further transaction volume growth and enhance the adoption of blockchain technology and crypto assets in Indonesia. However, market participants and investors are advised to remain cautious and conduct due diligence before engaging in crypto asset trading, given the volatile nature of the market and associated investment risks.